How Will The Younger Generations Be Effected When It Comes To Finding Medical Coverage In A Downward Economy?
September 12th, 2010Insurance No CommentsHealth insurance is one important aspect of life and living without it can not only make your financial stability shaky, but put your life in danger. Many youth who are aging in the adult population are forced to live without health insurance. Health insurance premiums are too expensive for those who leave school and get their careers off the ground.
The job market is difficult to succeed in even with a degree from a good university, and that means many graduates have to settle for jobs that may or may not even be in your field. And with the rising cost of health care costs more employers are dropping insurance as a benefit of employment of health very simply because they can not afford to help employees pay their premiums.
The little bit extra that employees might be making is little consolation when it comes to helping them afford health insurance. On average most employers will only raise an employee’s salary by a few dollars an hour if they don’t offer health insurance benefits and this is not even close to the amount that they will wind up paying to insure themselves and their families through a private pay insurance policy.
The problem clearly lies in the high cost of health insurance premiums which is directly proportionate to the high cost of medical care itself and that is directly proportionate to the high cost of malpractice insurance which is directly proportionate to the number of medical professionals, drug companies, and government agencies that face law suits brought forth by individuals who have been harmed or injured by the medical community. Now perhaps this seems like a lot of variables but when you pull out the middle you are left with the fact that the high cost of health insurance is caused by medical malpractice.
Looking at that one must wonder if the medical profession is helping or hurting their cause. After all, if medical malpractice issues were not so prevalent then there would be fewer lawsuits and then doctors would need less malpractice insurance and so the cost of health care would be reduced. Many doctors see it as being caused by the lawyers and the fact that people expect them to be miracle workers, neither of which is really that far off base either. No matter whose fault it is the cycle must be broken if we are ever going to see health insurance premiums fall again.
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